WWE expects new cable-TV deal by May

Bloomberg News

Published 7:24 pm, Friday, March 7, 2014

Photo: Christian Abraham, ST

Image 1of/1

Caption

Close

Image 1 of 1

This file photo shows World Wrestling Entertainment's Smackdown event at Mohegan Sun in Uncasville, Conn. WWE may find a new cable-TV home for its popular “Raw” and “Smackdown” programs by the end of April, Chief Financial Officer George Barrios told Bloomberg News on Thursday. less

This file photo shows World Wrestling Entertainment's Smackdown event at Mohegan Sun in Uncasville, Conn. WWE may find a new cable-TV home for its popular “Raw” and “Smackdown” programs by the end of ... more

Photo: Christian Abraham, ST

WWE expects new cable-TV deal by May

1 / 1

Back to Gallery

World Wrestling Entertainment may find a new cable-TV home for its popular "Raw" and "Smackdown" programs by the end of next month, Chief Financial Officer George Barrios said.

"We think we'll be able to announce a new domestic rights partner at the end of April or beginning of May," Barrios, who is also WWE's chief strategy officer, said Thursday in a telephone interview. He said the company is in talks with "multiple parties," while declining to name any.

Shares of Stamford-based WWE have gained more than 30 percent this week on prospects for a new online video network and a richer deal for the popular cable shows, according to Barrios. The company, controlled by founder and CEO Vince McMahon through Class B shares with added voting rights, isn't in merger talks, he said.

WWE has held talks on future domestic TV distribution of its shows with AMC Networks, Viacom, Time Warner's Turner Networks and 21st Century Fox, said people with knowledge of the situation. A renewal with NBCUniversal is also possible, they said. WWE's stock fell 0.5 percent to $29.64 in New York on Friday. Shares of the Stamford company have more than tripled in the past 12 months, and are at record levels.

A mobile application for the WWE Network, a digital channel that costs $9.99 a month, has been downloaded more than 10 million times, according to a company statement.

"Those are significant economics," Barrios said. "Investors are looking at those and figuring out how they will contribute."

An exclusive negotiating period with Comcast's NBCUniversal for cable rights ended last month. WWE's shows run on NBCUniversal's USA and SyFy networks.

"Raw" and "Smackdown" routinely rate among the most-watched shows on cable television each week, with "Raw" usually in the top 10 behind programs such as "The Walking Dead," "Duck Dynasty" and "Pawn Stars," according to Nielsen data.

"When you boil down the numbers we have larger live, same-day viewers than anything on cable," Barrios said. "We have a passionate fanbase that follows us wherever we are."